Necessity Retail REIT (NASDAQ:RTL) Price Target Lowered to $8.00 at B. Riley

Necessity Retail REIT (NASDAQ:RTL – Get Rating) had its price objective decreased by B. Riley from $10.00 to $8.00 in a research report report published on Monday, The Fly reports.

Necessity Retail REIT Price Performance

Shares of Necessity Retail REIT stock opened at $4.60 on Monday. Necessity Retail REIT has a 12 month low of $4.57 and a 12 month high of $8.19. The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 0.60. The business’s 50-day moving average price is $5.85 and its 200-day moving average price is $6.28. The firm has a market capitalization of $617.43 million, a PE ratio of -3.68 and a beta of 1.40.

Necessity Retail REIT Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 17th. Investors of record on Thursday, April 13th were given a $0.2125 dividend. This represents a $0.85 dividend on an annualized basis and a yield of 18.48%. The ex-dividend date was Wednesday, April 12th. This is a boost from Necessity Retail REIT’s previous quarterly dividend of $0.09. Necessity Retail REIT’s dividend payout ratio (DPR) is presently -68.00%.

Hedge Funds Weigh In On Necessity Retail REIT

A number of large investors have recently bought and sold shares of RTL. BlackRock Inc. increased its position in shares of Necessity Retail REIT by 0.8% in the first quarter. BlackRock Inc. now owns 12,601,664 shares of the company’s stock valued at $79,138,000 after acquiring an additional 100,584 shares during the period. Geode Capital Management LLC increased its position in shares of Necessity Retail REIT by 4.0% during the fourth quarter. Geode Capital Management LLC now owns 2,870,826 shares of the company’s stock valued at $17,023,000 after buying an additional 109,797 shares during the period. AQR Capital Management LLC increased its position in shares of Necessity Retail REIT by 52.9% during the fourth quarter. AQR Capital Management LLC now owns 1,732,532 shares of the company’s stock valued at $10,274,000 after buying an additional 599,679 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Necessity Retail REIT by 10.4% during the first quarter. Dimensional Fund Advisors LP now owns 1,661,327 shares of the company’s stock valued at $10,433,000 after buying an additional 156,658 shares during the period. Finally, Legal & General Group Plc increased its position in shares of Necessity Retail REIT by 5.6% during the fourth quarter. Legal & General Group Plc now owns 782,847 shares of the company’s stock valued at $4,642,000 after buying an additional 41,606 shares during the period. 57.04% of the stock is owned by hedge funds and other institutional investors.

Necessity Retail REIT Company Profile

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Necessity Retail REIT, Inc is a real estate investment trust, which engages in the acquiring and managing a portfolio of primarily service-oriented and traditional retail and distribution related commercial real estate properties. It operates through income-producing properties segment, which consists of activities related to investing in real estate.